How should I handle offshore accounts during a high asset divorce?

Family Law specialists with over 59 years of experience.

You should treat offshore accounts just as you would as if those assets were onshore. Some of our clients are tempted not to disclose assets, especially off-shore assets, because they think that their spouse will not discover them. This is a very risky gamble that can have disastrous consequences. As experienced attorneys, we do not make misrepresentations to a court, so we expect clients to disclose all asset they own.

Under Ohio law, each spouse must make a “full and complete” disclosure of all property, marital or separate, as well as other assets, debts, expenses, and income. The law states what will happen if a spouse tries to conceal or fails to disclose of property:

  • The court can order that the spouse who failed to disclose assets must make a payment to the other spouse, called a distributive award.
  • If the concealment was willful and substantial, then the court can also give up to three times the value of the assets concealed. For example, if you hide an offshore investment account valued at $1 million, then a judge can order that your spouse receive an additional $3 million in marital property above and beyond what they would otherwise get.

Remember to disclose all of your off-shore accounts to your attorney, who can review to make sure that you need to disclose the asset to your spouse and his or her attorney. Of course, if you want to keep certain assets confidential from prying public eyes, there are steps we can take to keep sensitive information private.

Client Reviews

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Kit

I was in a terrible custody dispute with my ex. I was very upset and afraid of my ex. Rodd listened to everything I said and remembered everything I said. He was aggressive in court and used the information I gave him very well. We won the case and my ex has backed off.

anonymous

I wanted an easy divorce from my wife. She wanted a fight. Rodd and I discussed fair terms for a dissolution. Because he was pro active and stayed on top of the case, my wife and I finally reached an agreement and had a dissolution. I highly recommend Rodd.

anonymous

I hired Linda Lawrence because I have a business and I wanted to protect it in my divorce. Linda is top notch and knows about business finance and assets. I was able to keep my business and not have to pay my wife anything from it. Hire her.

Linda

I hired Linda Lawrence because I needed an aggressive attorney. Linda was able to stand up against the other attorney and was very aggressive in court. It was an expensive divorce case, but that was because the other attorney was very aggressive and Linda was very thorough. I had great results in my case and highly recommend Linda.

Joy
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Our Practice Areas

Family Law

Attorneys for Divorce, Child Custody & More At the Lawrence Law Office, we are committed to helping families in conflict find creative solutions that focus on addressing their goals and...

Divorce

Columbus & Delaware, OH Divorce Lawyers In Ohio, there is more than one way to separate from your partner and dissolve your marriage. A divorce is typically a contested proceeding, with each side...

Contempt and
Enforcement and
Post divorce

When working through your divorce with an Ohio family law attorney, chances are your divorce agreement made allowances for child support. spousal support or

Business owner
divorce

Dividing the marital assets between divorcing people can be one of the most contentious issues during the entire divorce process. Ohio law allows the couple to work together with...

Child Custody

Dividing the marital assets between divorcing people can be one of the most contentious issues during the entire divorce process. Ohio law allows the couple to work together with...

High Asset
Divorce Cases

Helping With Child Custody, Visitation & Support Updates Or Modifications Sometimes circumstances substantially change after a divorce and require parents to revisit an existing...

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